Monzo needs a dose of Spotify boldness to go from UK unicorn to Silicon Valley titan

The end of October saw startup bank Monzo confirmed as the latest British unicorn, hitting a valuation of $1.2bn three years after launching.

This isn’t London’s first unicorn by any means, with Deliveroo and Funding Circle leading the way.

But so far none have come close to the achieving the global domination or $100bn valuations of Silicon Valley’s tech titans.

And Britain is not alone. Currently, Europe’s most valuable tech company is worth around $30bn. To scale to the heights of the Valley giants, European tech needs to rethink its approach and reset its ambition levels.

US companies take ambitious risks to become the best, as they truly believe that they can disrupt a particular marketplace in an irreversible way.